United Trust Bank doubles maximum mortgage to £2m

By Bridging Loan Directory 29th January 2025

United Trust Bank Mortgages has doubled the maximum loan size available to customers wishing to obtain a residential first charge mortgage up to 65% LTV to £2m with immediate effect.

In addition, customers wishing to borrow up to 75% LTV can borrow up to £1.5m, also increased from £1m.

The latest move, part of the specialist lender’s ‘Get January Jumping’ campaign, follows a raft of income criteria changes designed to boost borrower affordability and help brokers place more cases.

Higher Maximum Mortgages on Residential First Charges for Purchase or Remortgage:

Up to 65% LTV – £2m max
Up to 75% LTV – £1.5m max
Up to 85% LTV – £1m max
Up to 90% LTV – £750,000 max

Exciting Income Criteria Enhancements to Boost Affordability

75% of regular bonus, overtime and commission considered – was 50%
75% of annual bonus with 2 years history – was 50% with 4 years history
Ltd Company Directors income taken from net profit after tax and salary drawn – was taken from drawn dividends and salary
Self-employed applicants now considered on referral with 1-2 years trading and 1 year confirmed profits – was 2 years of profits evidenced
Contractors with less than 3 months on their current contract only require a signed letter of intent from their employer (for maximum £1m loan) – previously needed signed renewal letter
Up to 5% of SIPP pot can be used in monthly affordability if being drawn -previously capped at 3% of pot

Buster Tolfree, Director of Mortgages – United Trust Bank, commented:

“Having launched affordability boosting income criteria last week we’ve now doubled our maximum mortgage size to help brokers place bigger cases for customers with more complex incomes.

And judging by the response we’ve had since we started our ‘Get January Jumping’ campaign, brokers are going to love these latest changes too.

We’ve listened to intermediaries operating all over the country, we’ve read the research revealed in our mortgages white paper, and we’ve responded with tangible action to help brokers arrange amazing deals for even more customers. And guess what. We still have a few more tricks up our sleeves!”